Yvette Shields

Illinois Democrats warned that Gov. Bruce Rauner’s veto Thursday of all but education spending bills in the fiscal 2016 budget moves the state closer to a partial governmental shutdown.

The Chicago Board of Education approved resolutions authorizing $1.135 billion of short term tax anticipation note and warrant-backed borrowing to manage its precarious liquidity position.

While a state budget impasse otherwise shows no signs of easing, Illinois Gov. Bruce Rauner did sign off on education spending for the next fiscal year.

Standard & Poor’s has put Wayne County’s speculative grade rating on CreditWatch with negative implications following its request for state intervention.

The Chicago Public Schools’ efforts to ease a liquidity squeeze with a bill to delay a pension payment failed amid the ongoing clash between Gov. Bruce Rauner and House Speaker Michael Madigan.

Moody’s Investors Service has revised its outlook on Kansas City, Missouri’s Airport Enterprise ratings to positive thanks to recent revenue and traffic growth.

Chicago’s school system is trying to avert a liquidity crisis through two short-term fixes to provide breathing room as it pursues long-term solutions to its pension and budget ills.

The cash-strapped Chicago Public Schools is pushing off release of its fiscal 2016 budget and looking at $1.1 billion of tax anticipation and note borrowing through new credit lines as it struggles to stay afloat.

Gilmore & Bell PC, one of the top-ranked Midwestern bond counsel firms, has formally landed in Illinois with the opening a downstate office in Edwardsville, the law firm said Monday.

A $525 million boost in state public education funding over the next two years is a credit positive for Minnesota’s school districts, Moody’s Investors Service said Friday.

Lombard, Ill.'s village board isn’t budging from its longstanding position not to make up a shortfall in revenues needed for debt service on its $190 million of defaulted hotel and conference center bonds.

The Minnesota Vikings and U.S. Bank have struck a 20-year naming rights agreement on the National Football League team’s new publicly subsidized stadium that opens next year.

Illinois’ Democrats and Republicans heaped praise on retiring Auditor General William Holland for his office’s independence analysis.

Chicago Mayor Rahm Emanuel is moving up by one month release of a 2016 budget that is expected to address how the city intends to tackle a spike in pension contributions.

Illinois lawmakers plan to begin sending off bills that make up a $36.3 billion fiscal 2016 budget to Gov. Bruce Rauner next week, three weeks after they adopted a spending plan labeled by the GOP leader as “phony.”

Illinois Gov. Bruce Rauner is turning to a television advertising campaign in an attempt to build public support for his position in a budget impasse with the General Assembly’s Democratic majority.

The Chicago City Council votes Wednesday on a $1.1 billion general obligation restructuring that helps the city resolve a liquidity crisis driven by its downgrade to junk while also providing a big dose of budget relief.

Chicago's $1.1 billion general obligation debt restructuring cleared the City Council Finance Committee Monday after a two hour hearing during which new chief financial officer Carole Brown defended plans to roll short-term operating expenses on to the city’s long-term debt load.

Fairfield, Iowa’s rating sank to the lowest investment grade at Moody’s Investors Service, which warned it could drop further over operating deficits that have strained the town’s balance sheet.

St. Olaf College in Minnesota has its rating affirmed by Moody’s Investors Service as the school heads into the market with a $54.4 million new money and refinancing issue.